Fisher Asset Management LLC Has $3.92 Billion Stake in Salesforce, Inc. (NYSE:CRM)
Fisher Asset Management LLC lifted its position in shares of Salesforce, Inc. (NYSE:CRM – Free Report) by 5.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,905,462 shares of the CRM provider’s stock after acquiring an additional 736,986 shares during the quarter. Salesforce makes up about 1.9% of Fisher Asset Management LLC’s investment portfolio, making the stock its 8th largest position. Fisher Asset Management LLC owned approximately 1.54% of Salesforce worth $3,922,223,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in CRM. Bear Mountain Capital Inc. acquired a new stake in shares of Salesforce during the fourth quarter worth $26,000. Signature Resources Capital Management LLC acquired a new position in Salesforce in the fourth quarter valued at about $26,000. Kathleen S. Wright Associates Inc. acquired a new position in Salesforce in the fourth quarter valued at about $31,000. BKM Wealth Management LLC acquired a new position in Salesforce in the fourth quarter valued at about $34,000. Finally, Pacifica Partners Inc. grew its stake in Salesforce by 333.3% in the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 100 shares during the period. Institutional investors own 80.43% of the company’s stock.
Salesforce Stock Up 1.3 %
Shares of CRM opened at $231.94 on Monday. The stock’s 50-day moving average price is $268.79 and its two-hundred day moving average price is $277.27. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $224.75 billion, a PE ratio of 41.72, a PEG ratio of 2.04 and a beta of 1.26.
Salesforce (NYSE:CRM – Get Free Report) last posted its quarterly earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.38 by $0.06. The business had revenue of $9.13 billion for the quarter, compared to the consensus estimate of $9.15 billion. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.15 EPS. On average, analysts anticipate that Salesforce, Inc. will post 7.47 EPS for the current year.
Analyst Ratings Changes
A number of research analysts have issued reports on CRM shares. UBS Group decreased their target price on Salesforce from $310.00 to $250.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. StockNews.com cut Salesforce from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 19th. Morgan Stanley decreased their target price on Salesforce from $350.00 to $320.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. Wedbush reduced their price objective on Salesforce from $325.00 to $315.00 and set an “outperform” rating for the company in a research report on Wednesday, May 29th. Finally, Bank of America upped their price objective on Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $292.79.
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Insider Buying and Selling
In other news, CFO Amy E. Weaver sold 942 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $305.46, for a total transaction of $287,743.32. Following the transaction, the chief financial officer now directly owns 39,416 shares of the company’s stock, valued at $12,040,011.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Sundeep G. Reddy sold 2,425 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total transaction of $662,388.75. Following the transaction, the chief accounting officer now directly owns 5,856 shares of the company’s stock, valued at $1,599,566.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Amy E. Weaver sold 942 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $305.46, for a total value of $287,743.32. Following the transaction, the chief financial officer now directly owns 39,416 shares in the company, valued at $12,040,011.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 634,670 shares of company stock worth $178,310,008. Corporate insiders own 3.20% of the company’s stock.
About Salesforce
Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company’s service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.
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